With the holidays quickly approaching, there’s a good chance you’ll be visiting your parents for Thanksgiving. Most banks now REQUIRE Two-Factor Authentication, but there are still some that do not. So, do your parents a favor and check all of their bank and inventment accounts to ensure that Two-Factor is turned on! From the MacMedics legal team: In my litigation practice, I see the fallout from these scams every week. If you have an older family member, please help them get dual control security for their online accounts. Also, many brokerage companies will permit customers to lock down accounts, limiting fraudsters’ ability to pull money out of retirement accounts. Also, middle-aged and younger people regularly fall victim to wire transfer fraud, so be careful with those real estate closings and double-check (by telephone on a trusted phone number) any wire instructions. https://www.fbi.gov/scams-and-safety/common-scams-and-crimes/elder-fraud
Update 7-1-2023:
Let’s talk about two-factor authentication. I’ve posted about this before, but my own mother, who put eleven years of hard work into her Facebook page to support the books she has authored, and her business Facebook page got hacked a few days ago. She did not have two-factor authentication turned on. The sad thing here is that Facebook has no working resources to help folks like my mom. I found a page on Facebook where you can upload your ID to rescue your page. I tried to help her with that, and that did not work. I have no idea how her account got hacked, as she was using a decent password that was unique to Facebook. Since her page was a business concern with thousands of followers, this is a pretty big deal, as there appears to be no way to recover it.
